Swiss watch export statistics were released for November 2019. The results were largely negative, CHF 2 Billion in exports, down 3.5% compared to November of 2018. The negative results can be attributed to the political issues in Hong Kong. Hong Kong is one of the leading importers of Swiss watches. Hong Kong imported CHF 70 million less watches than a year prior.

Another important part of the results was the spread of watch exports by price. There was a sharp double-digit decline in both exports and the value for sub-CHF3000 watches. Watches above CHF3000 remained fairly stable in units sold and increased in value by 2%. These results may point to the fact that individuals buying watches below CHF3000 do not have as much disposable income as they used to a year ago due to a slowly of global economies. Furthermore, the supply of these watches could be piling up and decreasing their values.

The top five watch markets of the month saw the USA lead the way with CHF243 million in imports and Hong Kong coming in second due to the current heightened political climate. Over the last year, the Asians markets still dominate the top five export markets joined by the United States and United Kingdom.

December will be a crucial month for export results and the trajectory of where Swiss watch exports will go in the new year. Economic and political results will be at the forefront of where the results may go over the next year.

Enjoy!